Strong Chinese demand has continued to benefit Canadian softwood timber exporters, offsetting lacklustre sales in most other export destinations.
Canadian exports to China, according to Random Lengths, reached 440 million bd ft in the six months to June 30, nearly double the volume compared with the same period last year.
Traders say Canada has benefited from Chinese importers’ efforts to diversify their supply base, moving away from traditional Russian sources.
China’s gain was Japan’s loss, the latter losing its status as Canada’s largest offshore market. Exports to Japan fell to 398 million bd ft, down 45% compared with the previous year.
Shipments to the Middle East, Taiwan, Australia and the UK also fell by double-digit percentages in the first half of the year.
